SH. LALIT JAIN,CHANDIGARH vs. ACIT, C-4(1), CHANDIGARH

The appeals of the assessees are allowed for

Bench: Shri Satbeer Singh Godara & Smt. Annapurna Guptaआयकरअपीलसं./Ita No. 1074/Chd/2019 "नधा"रणवष" / Assessment Year: 2014-15 Shri Lalit Jain The Assistant Commissioner बनाम S.C.O. 371-372, 2Nd Floor, Of Income Tax Circle-4(1), Sector-35B, Chandigarh Chandigarh "थायीलेखासं./Pan No : Aaupj 0091Q अपीलाथ"/Appellant ""यथ"/Respondent

penalty proceedings u/s 271(1)(c) were initiated. That against the assessment order so framed, the assessee filed appeal before the Ld. CIT(A) and during pendency of the appeal raised additional grounds challenging the assessment of the surrendered income on account of alleged bogus Long Term Capital Gain

SMT. JYOTI JAIN,CHANDIGARH vs. ACIT, C-4(1), CHANDIGARH

The appeals of the assessees are allowed for

Bench: Shri Satbeer Singh Godara & Smt. Annapurna Guptaआयकरअपीलसं./Ita No. 1074/Chd/2019 "नधा"रणवष" / Assessment Year: 2014-15 Shri Lalit Jain The Assistant Commissioner बनाम S.C.O. 371-372, 2Nd Floor, Of Income Tax Circle-4(1), Sector-35B, Chandigarh Chandigarh "थायीलेखासं./Pan No : Aaupj 0091Q अपीलाथ"/Appellant ""यथ"/Respondent

penalty proceedings u/s 271(1)(c) were initiated. That against the assessment order so framed, the assessee filed appeal before the Ld. CIT(A) and during pendency of the appeal raised additional grounds challenging the assessment of the surrendered income on account of alleged bogus Long Term Capital Gain

DCIT, CHANDIGARH vs. SMT. MANJIT KAUR, CHANDIGARH

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. PARAMJIT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SMT. JASWANT KAUR, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SMT. JASWANT KAUR, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. PARAMJIT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

PAWAN GARG,PANCHKULA vs. ITO WARD 5((5) CHANDIGARH, CHANDIGARH

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1218/Chd/2024 "नधा"रण वष" / Assessment Year: 2014-15 Shri Pawan Garg, The Ito, House No. 766, Sector 16, Vs Ward 5(5), Panchkula. Chandigarh. "थायी लेखा सं./Pan No: Abmpg4243N अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Dr. Ranjit Kaur, Addl. Cit Sr.Dr Date Of Hearing : 27.01.2026 Date Of Pronouncement : 02.02.2026

Long Term Capital Gain of Rs.61,23,10/- as shown by the assessee is treated as undisclosed income of the assessee and added to his income. Further, a show cause notice with draft assessment order has been issued on 20.03.2022 fixing the date for compliance on 23.03.2022. In response to the show cause notice, neither any written reply

SH. PARMINDER SINGH MAVI,MORINDA vs. ITO, ROPAR

In the result, both the appeals of the assessee are allowed

Long Term Capital Gain earned by the assessee at Rs.1,79,13,228/- and added the same to the income of the assessee. Penalty proceedings u/s 271

SH. JAGMOHAN SINGH,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

long term capital gains”. Regarding the claim of deduction under Section 54, the Ld. CIT(A) stated that the claim has to be substantiated by the assessee by bringing on record the evidence of construction of residential house which has not been done despite sufficient opportunity being granted to the assessee. 5. As per record, the assessee has not filed

SH. PAWAN GARG,LUDHIANA vs. ACIT, C-2, LUDHIANA

The appeal of the assessee stands allowed

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 1475/Chd/2018 "नधा"रण वष" / Assessment Year : 2014-15

Gain came to be reduced by the amount of capital loss so wrongly claimed. The mistake was noticed by the Assessing officer during the course of assessment proceedings and on being confronted on the issue, the assessee surrendered the Long Term Capital Loss. We have also gone through the computation of income filed by the assessee and we see that

THE PUNJAB STATE FEDERATION OF COOPERATIVE HOUSE BUILDING SOCIETIES LTD.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result, both the above appeals of the Assessee are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

long-term capital gain on sale of shops, concluding that the activity formed part of business, and determined income from that project as business profit without indexation. After reworking income head-wise, disallowing deductions on non-member and bank interest, and reclassifying project income, the AO computed taxable income at Rs.91,14,190/- and initiated penalty proceedings u/s 271

THE PUNJAB STATE FEDERATION OF COOPERATIVE HOUSE BUILDING SOCIETIES LTD.,CHANDIGARH vs. DCIT, CHANDIGARH

In the result, both the above appeals of the Assessee are dismissed

Bench: the appeal is finally heard.

long-term capital gain on sale of shops, concluding that the activity formed part of business, and determined income from that project as business profit without indexation. After reworking income head-wise, disallowing deductions on non-member and bank interest, and reclassifying project income, the AO computed taxable income at Rs.91,14,190/- and initiated penalty proceedings u/s 271

SH. CHARANJIT SINGH ATWAL,LUDHIANA vs. ITO, LUDHIANA

In the result, the penalty of the assessee is hereby allowed and that of the Revenue is dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarassessment Year : 2007-08 Sh. Charanjit Singh Atwal, Vs. The Ito, Ward 6(1), 484-A, Model Town Extension, Ludhiana Ludhiana

long term capital gain was, therefore, stated to be Rs.3,54,68,276/-. 6. The Commissioner (Appeals) dismissed the appeal upholding the order passed by the Assessing Officer. Aggrieved by the order, the assessee filed appeal before the Income Tax Appellate Tribunal (ITAT), which was also dismissed by the ITAT. 7. The assessee further preferred appeal before

ITO, LUDHIANA vs. SH. CHARANJIT SINGH ATWAL, LUDHIANA

In the result, the penalty of the assessee is hereby allowed and that of the Revenue is dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarassessment Year : 2007-08 Sh. Charanjit Singh Atwal, Vs. The Ito, Ward 6(1), 484-A, Model Town Extension, Ludhiana Ludhiana

long term capital gain was, therefore, stated to be Rs.3,54,68,276/-. 6. The Commissioner (Appeals) dismissed the appeal upholding the order passed by the Assessing Officer. Aggrieved by the order, the assessee filed appeal before the Income Tax Appellate Tribunal (ITAT), which was also dismissed by the ITAT. 7. The assessee further preferred appeal before

ASHISH ARORA,CHANDIGARH vs. DCIT, CHANDIGARH

The appeals of the Assessee are allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2009-10

u/s 54 of the Act. The Assessing Officer has treated the income declared/ surrendered during the survey under section 133A as deemed income in view of the decision of the jurisdiction High Court in the case of Kim Pharma Pvt. Ltd. (2013) 35 Taxman and did not allow the Long Term Capital Gain computed by the assessee. 4. Before